Towergate adds to payment protection portfolio

Towergate has announced the acquisition of payment protection specialist, British Insurance.

Under the terms of the deal, Simon Burgess will remain as managing director of British Insurance and all staff have made the move to Towergate.

British Insurance is a leading brand in the mortgage and loan payment protection market controlling around £10m GWP.

Peter Cullum, Towergate’s executive chairman, said: “British Insurance is a great signing for Towergate and complements our existing payment protection capabilities. As a leading brand name, the company will continue to run under its own

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Broking profits fall at Saga

Underlying profit before tax in Saga’s insurance broking arm fell to £39.8m for the year ended 31 January 2024, compared with £71.5m in the previous period.

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